Physician Mortgage Southfield Michigan

Regardless of whether you are a first time home buyer or buying a new home in Southfield Michigan, our vetted loan officers have a strong understanding of the local area real estate industry and what it really requires to close your physician loan with efficiency and know-how.

Our loan officers in Southfield Michigan provide specialized financing for doctors, just like you.

First and foremost, let’s talk about why physician mortgage loans even exist. The reason is that doctors are really profitable customers for financial institutions. They take out big loans early in their careers and almost always pay them off. Lenders use physician home loans to secure early career doctors by lending them more money with far fewer stipulations than their competitors.

Physician Home Loan Experts In Southfield Michigan

If you are searching for a physician mortgage in Southfield Michigan then you came to the perfect place.

You’ve trained very hard to become a doctor and purchasing home really should not be nearly as challenging.

Did you know there is a special loan that makes it easy for doctors to buy a home?

A home loan only for doctors?

Yup, doctors get their own home loan!

A physician home mortgage is a specialized loan program made just for doctors in the home purchasing process.

We are aware of the economic demands of your student loan debt, and how vital it is to preserve working capital for when the time is right with embarking upon your career. Whether or not you are a couple years into practice, or a well established doctor, you can depend on us to find a home loan that is exclusively tailored for your needs.

Quite a few physicians in Southfield Michigan may not qualify for conventional loans for various reasons such as minimal savings for a down payment, large student loan debt or little to no work history.

Despite these factors smart lenders know that doctors are a good choice due to the fact that they historically have an extremely low nonpayment rate on loans, high earning potential and secure jobs.

Not all financial institutions offer this specialized product and within banking institutions that do just simply talking to the right home loan officer makes a significant difference.

Advantages of Physician Mortgage Loans

  • Typically does not include student loan regular monthly payments in debt-to-income ratio.
  • Requires small to no down payment (0-5 percent).
  • Often does not necessitate private mortgage insurance (PMI), even when lower than 20 percent down payment.
  • Will approve a contract as documentation of future earnings, in lieu of pay stubs or W-2s, which don’t yet exist.

Purchasing a house doesn’t have to empty your savings and the process doesn’t have to drain your time.

Should You Put Cash Down?

What if you have some cash to put down or are considering delaying until you have the funds?

Our lenders can do the math for you and show you what each situation looks like and the advantages of each too.

In most instances, you’ll get your home mortgage paid off earlier and save thousands of dollars on interest rates too.

Furthermore, don’t forget that having equity in your house will likely offer greater security and flexibility, specifically if something unanticipated happens. With the 100% financed physician mortgage loan, you should expect to begin under water. If something doesn’t work out and you’re forced to sell quickly, you should be prepared to write a potentially sizable check for up to 10% of the purchase price just to get out of the house.

No matter if you’re relocating down the road, across town or across the country, we are here to lend a hand you through the physician home mortgage process:: because you deserve it!

Doctors, get the home of your dreams with our Southfield Michigan physician home mortgage program!

Less than an hour ago, doctors just like you requested a loan from the locations listed below.

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